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India funds reap Modi rewards

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Written by:
01/10/2014
Indian funds have been the runaway winners of 2014 to date, according to Hargreaves Lansdown, with six of the 10 best performing funds investing in the region.
India funds reap Modi rewards

The Indian market has been revitalised by the election of pro-business Prime Minister Narendra Modi earlier this year, Hargreaves said.

Laith Khalaf, senior analyst at Hargreaves Lansdown, said: “The success of the Indian market continues apace following Modi’s election. The main stock market index, the Sensex, is up about 30 per cent this year, and some UK funds have done significantly better. The market still looks reasonably valued compared to its history, though the data available for this region is relatively short.”

See the chart below for the best performing funds of the first nine months of 2014.

Rank  Fund  Per cent Growth (YTD) 
 First State Indian Subcontinent  41.7
 Jupiter India  36.9
 Neptune India  36.4
 Invesco India Equity  32.4
5  HSBC GIF Indian Equity  31.1
 Invesco Korean Equity  25.0
 JPMorgan India  24.2
 AXA Framlington Biotech  24.1
 JPM Emerging Middle East Equity  21.7
10   Schroder Small Cap Discovery  18.8

 Source: Hargreaves Lansdown

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